New legislation has been introduced to the New South Wales Parliament that will better enable the delivery of sustainable and impactful investment in the state’s regional areas.
Amendments to the Regional Development Act 2004 will modernise the legislation to broaden the type of investments that can be made to ensure regional communities’ needs are met and local businesses and organisations gain the benefits.
The New South Wales Government said that its regional investments will be made where they are needed most and in projects that make the biggest difference to regional communities.
The amendments to the act follow on from the government’s establishment of the $400 million Regional Development Trust and the recent renewal of the old Department of Regional NSW to the more focused and dynamic Department of Primary Industries and Regional Development.
Over the past year the State Premier and Minister for Regional NSW conducted a series of roundtables across New South Wales including in Broken Hill, Bega, Casino and Wagga Wagga to hear first-hand from more than 200 industry, community, Aboriginal and local government representatives about their needs.
The bill tabled by the government before parliament addresses that feedback in four key ways:
- Updating the objects of the act to reflect the needs and expectations of contemporary regional New South Wales
- Broadening the types of financial assistance available under the act
- Inserting new governance and reporting provisions to strengthen accountability and transparency
- Mandating that a Regional Development Advisory Council must be in place to provide independent advice to government and the minister on regional economic development
The focus areas for investment under the Regional Development Trust are:
- Sustainable regional industries
- Community connection and capacity building
- Improving regional service delivery
- Aboriginal economic development and enterprise
The New South Wales Government has started investing through the Regional Development Trust with $35 million dollars announced for rural and remote airstrip upgrades, low interest loans for emerging food and beverage businesses, childcare in western New South Wales and Aboriginal economic development.
New South Wales Minister for Regional NSW, Tara Moriarty, said that going forward, regional communities will know that the government is being strategic and considered in how it supports communities to thrive.
“Our government has heard directly from the residents of regional New South Wales and turned their ideas and needs into tangible investment outcomes for communities,” Minister Moriarty said.
“Consultation feedback demonstrated that the ageing act’s narrow focus did not align with our communities’ expectations around regional development today.
“Under this new approach, regional investment will be made where it is needed most and in projects that make the biggest difference to our regional communities.
“The Government’s Regional Development Trust is a funding source for initiatives that align with the amended legislative framework, and this bill is critical to ensuring it is effectively administered as we progress our efforts.”
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